Yes, not sure about the counter thing yet. But i cannot see a big difference between taking the -3% with a hard stop out or waiting for the opposide trigger gets activated to lock in the -3% loss by opening a second trade I am still trying to find ...

Billytt Die happy trading e/j daily breakout

My current risk plan for the Billy Bar setup is to accept a max. of -3% loss on a single trade. Which equals about 15 Pips trading on 1 Lot to me. I don't know what would be best here yet, either locking in at -3% with a counter trade (the opposite ...

Billytt Die happy trading e/j daily breakout

Almost to easy to be true

Billytt Die happy trading e/j daily breakout

GU 08:00. Looks choppy? Range 20 Pips... image Update: Low broke. Short triggered. image Got my +1% (7 Pips). I am done for today again. image

Billytt Die happy trading e/j daily breakout

For the moment I would be fine with knowing what I should do in case of a GU 08:00 trade that i have to lock in. I am reading through all the information given here regarding this, a lot is still new to me. I am willing to put in the time it needs, ...

Billytt Die happy trading e/j daily breakout

Excellent information.

Billytt Die happy trading e/j daily breakout

Thanks. Yes i already started doing so manually for GU 08:00 until I find no other way. regards.

Billytt Die happy trading e/j daily breakout

What did you backtest, how often it reached TP +5? I mean when I go counter on a failed first strike, not sure how this could be backtested. I would be interested in generating my own stats but don’t want to go manual through all the price candles ...

Billytt Die happy trading e/j daily breakout

Thanks. Yes I didn’t want to say it’s of no benefit, just that i don’t understand how I would unwind from the hedged position on the GU 08:00 setup without finding my self in a hedged trade every second day and by the end of the month I have ...

Billytt Die happy trading e/j daily breakout

I did set a pending order at high and low, high was triggered first and got +5. That’s why I wondered about an entry at the low, as you should have already made pips and could go away from the screens.

Billytt Die happy trading e/j daily breakout

Why the other end? Greedy, or didn't triggered the high? You should not care about news i guess... If you see a high impact news on the calendar for around 08:00 or what ever setup you trade. You should avoid it. There is always anyone person ...

Billytt Die happy trading e/j daily breakout

Glad to see i didn't hunt for 0.5 Pips more... image

Billytt Die happy trading e/j daily breakout

GU 08:00 High broke +1% (7,0 Pips) Memo to my self: Plan A - Range of 08:00 bar a bit to high again for my risk level. 20 Pips. Max should have been 15. - Market doesn't seem to care about my risk level - Only noticed the resistance at 08:00 ...

Billytt Die happy trading e/j daily breakout

image

Billytt Die happy trading e/j daily breakout

Yes. What I don’t understand is if you expect to lose your original trade then why open it at all, second if having to hedge it instead of taking a fixed loss, you could wait for the next day 0800 like I am doing so far and try again. Why would I ...

Billytt Die happy trading e/j daily breakout

Yeah but hard to comprehend for me for now what actions exactly after a failed TP first break would be required to do. Will have to read trough more of the hole thread. Thanks for your comments.

Billytt Die happy trading e/j daily breakout

I just wanted to ask the same.

Billytt Die happy trading e/j daily breakout

Like said I would do the counter / limbo / hedge thing but haven’t learned what to do here so far that’s why using the fixed stop is the only way i understand and can apply on this setup at the moment to have at least a chance trading it at all. So ...

Billytt Die happy trading e/j daily breakout

Glad to see at least one person seems to understand what I am trying to figure out all the time so far.

Billytt Die happy trading e/j daily breakout

Yes but Billy says target for 5 pips so where should my stop loss be then, -1,5 Pips ? That would pretty sure stop me out 19 times of 20 days.

Billytt Die happy trading e/j daily breakout